Not Logged In Log In   Sign Up   Points Leaders
Follow Us    2:57 AM

GasBuddy News Article

40
votes
Energy Why Lower Natural Gas Prices Help the U.S. Only a Little

Bloomberg Businessweek -- There’s a rule of thumb that says a $10 rise in the price of a barrel of oil reduces gross domestic product growth by anywhere from 0.2 to 0.5 percentage points. Applied over the past six months, when crude prices rose by about $30 from early October to the end of March, that means dearer oil might’ve chewed as much as 1.5 percent out of GDP growth during the last two quarters. Not a trivial amount considering GDP increased 3 percent in the fourth quarter of 2011. Economists surveyed by Bloomberg tend to think the economy grew just 2.2 percent in the first three months of 2012, when the price of gas really took off.

Oil is our economy’s most important raw material. The price of it (and therefore, gasoline) impacts the price of just about everything we buy, from groceries to clothes to app


Read the Full Article

Submitted Apr 27, 2012 By: SUPPER
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Energy Why Lower Natural Gas Prices Help the U.S. Only a Little Back to Topics
REPLIES (newest first) Post a Reply
fenster66
Champion Author Pittsburgh

Posts:6,744
Points:1,498,250
Joined:May 2011
Message Posted: Apr 27, 2012 9:45:15 PM

ending speculation would help....
skyking19
Champion Author Little Rock

Posts:2,733
Points:2,204,735
Joined:Jan 2007
Message Posted: Apr 27, 2012 9:44:53 PM

Need more of it!
nztyraider
Champion Author Nevada

Posts:3,676
Points:1,386,310
Joined:Apr 2009
Message Posted: Apr 27, 2012 9:42:52 PM

Actually it helps a lot.
AKmailman
Champion Author Alaska

Posts:9,024
Points:2,361,895
Joined:Jul 2004
Message Posted: Apr 27, 2012 9:41:09 PM

as long as big oil controls detroit, CNG vehicles
will never go mainstream
gass12
Champion Author Omaha

Posts:11,634
Points:3,111,160
Joined:Oct 2005
Message Posted: Apr 27, 2012 9:40:29 PM

Natural Gas is the answer.
Focus2
Champion Author Illinois

Posts:8,172
Points:2,143,870
Joined:Mar 2006
Message Posted: Apr 27, 2012 9:33:16 PM

I would have to agree that we need to make more use of natural gas especially in transportation. As far as having enough for over a century, we might have much more than that if big oil would stop flaring it off to get to the oil. They claim the gas just gets in the way and they are after the more expensive oil not the cheap stuff! We need to enact laws and have them enforced to protect our natural resources, yes natural gas! Greed has blinded them and they go after the dirty oil and waste the clean burning fuel that we should be using but are being denied. T Boone Pickins thinks the natural gas should be high in price so it won't be wasted. Sure he would think that way being an oil man. We just need regulation protecting our resources not higher profits for Big Oil! To make a point, my brother sold some timber to a logging firm. They picked out the prime trees they were interested in and he marked the other trees that they would have to take (which they agreed to) that they didn't really want as they were just classed as pulp wood and not profitable. The same goes for natural gas while it is cheap is not as profitable as going after the oil.
SpankyMI
Champion Author Kalamazoo

Posts:5,542
Points:1,520,715
Joined:Jan 2011
Message Posted: Apr 27, 2012 9:27:00 PM

If you use natural gas to heat your home, lower prices helps!
itsjustme719
Champion Author Hamilton

Posts:2,256
Points:1,331,685
Joined:Dec 2010
Message Posted: Apr 27, 2012 9:26:33 PM

Wish I could afford to convert my vehicle to NG.
passin_gas2011
All-Star Author Ohio

Posts:806
Points:210,515
Joined:Sep 2011
Message Posted: Apr 27, 2012 9:20:58 PM

well ok then
mrbee
Champion Author Little Rock

Posts:7,155
Points:3,303,830
Joined:Oct 2005
Message Posted: Apr 27, 2012 9:18:23 PM

Drill for more.
GoGoGoodyear
Champion Author Los Angeles

Posts:5,403
Points:919,930
Joined:Mar 2010
Message Posted: Apr 27, 2012 9:07:40 PM


From the article:
Although we have massive amounts of natural gas—an estimated 2,214 trillion cubic feet, enough to last 100 years by some measures—we still don’t use that much of it. Case in point: We’re drilling so much and using so little, it’s conceivable that we’ll max out our 4.3 trillion cubic feet of storage capacity at some point this year. Americans burn about 22 trillion cubic feet of natural gas every year.

With natural gas being so abundant and costs staying reasonable it's obvious we need to make more use of it and replace gasoline and diesel uses with NG where possible.
BeulahME
Champion Author Maine

Posts:1,407
Points:681,570
Joined:Jan 2011
Message Posted: Apr 27, 2012 9:06:07 PM

We have oil, use it.
TedNC
Champion Author North Carolina

Posts:1,469
Points:321,840
Joined:May 2011
Message Posted: Apr 27, 2012 9:00:29 PM

The oil industry and Wall St. don't care about the people of this country. Only $$$$$$
GoGoGoodyear
Champion Author Los Angeles

Posts:5,403
Points:919,930
Joined:Mar 2010
Message Posted: Apr 27, 2012 9:00:14 PM


Link to the full article is broken because it's missing the URL.

Here is the working link to the article on Businessweek.com

Blue48
Champion Author Illinois

Posts:10,715
Points:2,453,060
Joined:Feb 2007
Message Posted: Apr 27, 2012 8:55:27 PM

GO FIGURE!
iceman11
Champion Author Ontario

Posts:2,715
Points:536,425
Joined:Feb 2011
Message Posted: Apr 27, 2012 8:54:30 PM

it is making every one broke
200porter
Champion Author Toronto

Posts:5,402
Points:1,380,360
Joined:Sep 2011
Message Posted: Apr 27, 2012 8:52:45 PM

If you're spending all your money on oil, then you can't use it for anything else.
hagar2935
Veteran Author Nevada

Posts:321
Points:89,275
Joined:Dec 2011
Message Posted: Apr 27, 2012 8:47:57 PM

This is just a "blip" higher prices coming our way thanks to Obama, the Democraps & the Eco-Terrorists.....

TAKE BACK AMERICA THIS NOVEMBER!!!!!!!!!!!!!!
listerone
Champion Author Boston

Posts:5,393
Points:1,573,175
Joined:Aug 2008
Message Posted: Apr 27, 2012 8:46:19 PM

We have huge reserves of natural gas.Let's use it in every way possible.
boborobot
Champion Author Michigan

Posts:1,219
Points:1,188,490
Joined:Dec 2011
Message Posted: Apr 27, 2012 8:42:36 PM

Speculation!
ratones1
Champion Author Los Angeles

Posts:3,419
Points:1,416,385
Joined:Mar 2011
Message Posted: Apr 27, 2012 8:41:38 PM

OK...
blazerbob91
Champion Author Milwaukee

Posts:7,105
Points:2,654,165
Joined:Aug 2005
Message Posted: Apr 27, 2012 8:29:47 PM

Wait till they figure out how to manipulate NG
rxman1
Champion Author Toledo

Posts:13,183
Points:2,700,870
Joined:Nov 2007
Message Posted: Apr 27, 2012 8:29:39 PM

The price of gas takes a large chunk of my budget every month.
darkknight1
Champion Author Winston-Salem

Posts:7,685
Points:1,731,035
Joined:Nov 2010
Message Posted: Apr 27, 2012 8:29:04 PM

not surprised
methaneman
Champion Author Minnesota

Posts:5,458
Points:2,023,790
Joined:May 2002
Message Posted: Apr 27, 2012 8:26:06 PM

not my bills.
96sc1
Champion Author El Paso

Posts:8,518
Points:1,367,835
Joined:Mar 2008
Message Posted: Apr 27, 2012 8:20:39 PM

Blah, blah, blah. Lack of demand for natural gas has lowered prices to the point where producing it is unprofitable. Of course, producing ethanol and wind and solar power is unprofitable too, but those are subsidized to appease the environmentalists. WHO ARE THE "ENVIRONMENTALISTS"?
saleboss
Champion Author Phoenix

Posts:4,106
Points:1,205,515
Joined:Feb 2006
Message Posted: Apr 27, 2012 8:20:13 PM

The lower NG prices would help us more if we could get to it!
FuelOilOH
Champion Author Cleveland

Posts:2,876
Points:1,228,780
Joined:Oct 2007
Message Posted: Apr 27, 2012 8:19:45 PM

This is just what 'Bama wants. It lends credence to his goal of having government provide everything you need. It's called Socialism or Communism.
TDIdave
Champion Author California

Posts:5,998
Points:1,960,485
Joined:May 2006
Message Posted: Apr 27, 2012 8:17:49 PM

ok
Martillo
Champion Author Dallas

Posts:3,803
Points:1,291,500
Joined:Nov 2008
Message Posted: Apr 27, 2012 8:14:10 PM

OK
iamforiu
Champion Author Indiana

Posts:6,986
Points:1,550,140
Joined:May 2011
Message Posted: Apr 27, 2012 8:12:05 PM

ok
mconley1967
All-Star Author Louisville

Posts:586
Points:486,330
Joined:Mar 2012
Message Posted: Apr 27, 2012 8:11:51 PM

Ok
speedys
Champion Author Utah

Posts:10,394
Points:3,372,230
Joined:Nov 2005
Message Posted: Apr 27, 2012 8:11:07 PM

When we start using more natural gas the savings has to be greater.
Lou08
Champion Author California

Posts:1,084
Points:252,410
Joined:Feb 2008
Message Posted: Apr 27, 2012 8:09:57 PM

<<<<<<;=)>>>>>>>>Hey can't read article >Error Code~404 Article not available
Any more@@@.....
singlemom27
Champion Author Ventura

Posts:6,387
Points:1,449,220
Joined:Apr 2011
Message Posted: Apr 27, 2012 8:09:50 PM

At least it helps. Everything adds up.
HDFXR1991
All-Star Author Wisconsin

Posts:509
Points:365,180
Joined:Sep 2008
Message Posted: Apr 27, 2012 8:09:20 PM

lower hell tell my bills.
jdc17327
Champion Author Pennsylvania

Posts:2,648
Points:204,255
Joined:May 2009
Message Posted: Apr 27, 2012 8:05:13 PM

okay...great...but NOT FOR LONG!
ShabbyPA
Champion Author Pennsylvania

Posts:3,154
Points:764,550
Joined:Nov 2007
Message Posted: Apr 27, 2012 8:02:47 PM

Vote noBama in 2012
h2ojumper
Champion Author Austin

Posts:5,905
Points:1,531,560
Joined:Feb 2011
Message Posted: Apr 27, 2012 8:01:51 PM

ok
Number43
Champion Author Lexington

Posts:12,214
Points:2,452,615
Joined:Oct 2008
Message Posted: Apr 27, 2012 8:01:45 PM

OK
Number43
Champion Author Lexington

Posts:12,214
Points:2,452,615
Joined:Oct 2008
Message Posted: Apr 27, 2012 8:01:32 PM

We need to use it.
mabrams184
Champion Author Lexington

Posts:4,248
Points:1,312,305
Joined:Aug 2011
Message Posted: Apr 27, 2012 8:00:37 PM

ok
MINIWINI598
Champion Author Washington

Posts:6,955
Points:1,334,425
Joined:Dec 2011
Message Posted: Apr 27, 2012 8:00:35 PM

ok
balljars
Champion Author Michigan

Posts:8,113
Points:1,610,695
Joined:Aug 2008
Message Posted: Apr 27, 2012 7:57:23 PM

Well the lower prices help us consumers a little.
MG_Sputnik
Champion Author Philadelphia

Posts:10,468
Points:2,772,405
Joined:Apr 2006
Message Posted: Apr 27, 2012 7:51:09 PM

It'll all be fine by the time a certain person's re-election campaign is in full gear.
bojiway1
Champion Author Minnesota

Posts:5,337
Points:1,301,135
Joined:Dec 2011
Message Posted: Apr 27, 2012 7:43:04 PM

nice article, keep informing us
powerserge
Rookie Author Boston

Posts:43
Points:46,975
Joined:Apr 2012
Message Posted: Apr 27, 2012 7:41:21 PM

good article
cleangasprices
Veteran Author Vancouver

Posts:315
Points:72,515
Joined:May 2011
Message Posted: Apr 27, 2012 7:40:09 PM

Logically it does, but in fact no much help
DYSKYPILOT
Champion Author Fort Worth

Posts:5,870
Points:1,405,275
Joined:Mar 2006
Message Posted: Apr 27, 2012 7:40:03 PM

ok
cleangasprices
Veteran Author Vancouver

Posts:315
Points:72,515
Joined:May 2011
Message Posted: Apr 27, 2012 7:38:16 PM

No change, more vehicles are still on gas
gws2980
Champion Author Philadelphia

Posts:5,440
Points:1,322,810
Joined:Oct 2010
Message Posted: Apr 27, 2012 7:36:12 PM

Now we have more home oil but no refineries
jimgraham
Champion Author Akron

Posts:13,782
Points:2,793,585
Joined:Oct 2007
Message Posted: Apr 27, 2012 7:30:20 PM

What happened to the link???????????????????????????????
Post a reply Back to Topics